157 Rathbun, Woonsocket, RI 02895
Four-building, 23-unit multifamily with 50-car parking and established monthly income.
- Added:
- Jun 18, 2026
- Days on Market:
- 10
- Last Refresh:
- Jun 24 at 1:54 am
Property Features for 157 Rathbun
General Information
- Standard status
- Active
- Size
- 17,246 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing office HERE REALTY (401) 862-1251
Listing date Jun 18, 2026
Source Corcoran
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of HERE REALTY
HighLights
- Four‑building multifamily with 23 units
- 50‑car parking lot for tenants
- Current monthly income: $31,000/month ($372,000 annualized)
- Achievable rent roll: $34,225/month
- Value‑add upside shown as $38,000+ annual difference between current and achievable rent roll
Overview
The buildings are located at 157 Rathbun in Woonsocket, Rhode Island (02895). The remarks also note the asset’s proximity to Providence, positioning the portfolio within a rental market that can benefit from that regional draw.
For investors seeking a manageable, income-producing multifamily portfolio, the unit count and on-site parking are practical operating factors. With the stated gap between current and achievable rent roll figures, the property presents a straightforward path for improving revenue while maintaining its existing stabilized income profile. This combination of scale, parking, and current performance is designed for buyers looking to move decisively on a turn-key income asset rather than a vacant or heavily repositioned property.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $440.8k | $25.56 |
| − Vacancy | −$26.4k | −$1.53 |
| EGI | $414.4k | $24.03 |
| − OpEx | −$186.5k | −$10.81 |
| NOI | $227.9k | $13.21 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Woonsocket
- County
- Providence
- State
- Rhode Island
- Longitude
- -71.5031931
- Latitude
- 42.01109
